Today's mortgage interest rates are much lower than they were at the start of the year. Kirpal Kooner/Getty Images

Homebuyers and current owners looking to refinance who may have thought the declines in interest rates were completed for 2025 may want to reconsider. After an unemployment report released last week showed a greater-than-anticipated addition of jobs but still, an increase in the unemployment rate, the chances of another rate cut for the Federal Reserve's final meeting of the year surged. As of November 24, 2025, the likelihood of another 25 basis point cut in the December meeting – the third such cut this year – stands at just under 80%. And, if that happens, mortgage interest rates could continue to decline in the final weeks of 2025.

But that shouldn't negate t

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